Advancements in Audio & Video Wireless Intercom Systems to Propel Market Growth
Technological advancements have played an imperative role in redefining the communication space in the past few decades. Wireless products continue to gain popularity across the world, as it minimizes manual tasks such as digging and assist in cutting down equipment and labor costs. Advancements in video and audio technologies over the past few years have boosted the overall prospects of the global wireless intercom market. In addition, the growing adoption of the Internet of Things (IoT) is another factor that is expected to drive the demand for wireless intercoms during the forecast period.
Long-range intercoms are projected to gain immense popularity in the forthcoming years due to which, the wireless intercom market is set to tread through a fruitful period in the upcoming years. Moreover, increasing focus on upgrading security and improving surveillance systems to prevent crimes in commercial as well as residential sectors is a major factor that is expected to drive the adoption of wireless intercom during the forecast period. Due to the entry of cutting-edge technologies, including Wi-Fi and Bluetooth, different types of wireless intercoms are available across globally. In addition, as business organizations continue to focus on improving internal communication, the adoption of wireless intercoms is likely to grow.
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While security & surveillance are expected to remain the primary application or end use of wireless intercoms, wireless intercoms are increasingly being used across the logistics and hospitality sectors. At the back of these factors, the global wireless intercom market is expected to cross a market value of US$ 12.4 Bn by the end of 2030. Fast-paced advancements in the wireless technology are one of the primary factors likely to propel the global wireless intercom market.
Growing Demand from Residential Sector to Aid Market Growth
The residential sector across the world continues to witness considerable changes, particularly in developing regions. The introduction of smart cities, and focus on implementing new technologies and amenities across residential complexes and townships are expected to drive the adoption of wireless intercom in the forthcoming years. Intercom systems have gained immense popularity across the residential sector over the past couple of decades. However, the entry of cellular communication and digital telephone systems could potentially hinder the demand for wireless intercoms in the upcoming years.
In their quest to increase their market presence, players operating in the wireless intercom market are increasingly working toward improving the features of their products and catering to end user demands. At present, wireless intercoms are extensively used as an advanced security solution across the residential sector. In addition, wireless intercoms are also used to monitor and track the activities of younger children– a factor that could spurt the growth of the market for wireless intercoms. While the demand from the residential sector is expected to remain consistent, the commercial sector is projected to provide abundant opportunities as well.
Wireless Intercoms Continue to Gain Popularity across Workplaces Worldwide
Wireless intercom systems have emerged as a popular security solution, particularly across workplaces worldwide due to consistency and optimum performance. Organizations continue to place immense trust in wireless intercom systems to improve security and the trend is likely to continue in the upcoming years. The adoption from the commercial sector is likely to gain further momentum, as there is no need for wires and complex installation frameworks. Wireless intercoms are available across online marketplaces as well as offline alternatives, including electronic stores. While audio wireless intercom systems are likely to have a higher adoption rate, video wireless intercom systems are expected to garner considerable attention in the upcoming years.
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COVID-19 Pandemic to Impact Growth Prospects
As the global economy continues to recover from the impact of the ongoing COVID-19 pandemic, offices and business organizations are increasingly exploring the different alternatives to enhance workplace safety without compromising on communication. Although the sales of wireless intercoms across the commercial sector was moving in the upward trajectory before the COVID-19 pandemic, sales are further anticipated to increase in the last two quarters of 2020, as offices gear up to resume on-premise operations following the relaxations in lockdown guidelines. Several market players operating in the current wireless intercom market are increasingly leaning toward the development of wireless intercom solutions that have the ability to operate on mobile devices. In addition, as remote working is estimated to stay in vogue for an indefinite period in several organizations, several new wireless intercom systems are being developed to cater to these requirements.
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